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🏡 May 2024 Luxury Real Estate Market Update & Trends for Malibu, CA 🌟

🏡 May 2024 Luxury Real Estate Market Update & Trends for Malibu, CA 🌟

By Christophe Choo Posted Jul 05, 2024 Latest Updates, Market Activity, Real Estate Advice for Buyers & Sellers, Videos

🏡 May 2024 Luxury Real Estate Market Update & Trends for Malibu, CA 🌟

🔼 Avg Sales Price: $7.60 million, 📈 UP 87%

🔼 Avg List Price $9.17 million, 📈 UP 2%

🔼 Properties Sold: 9, 📈 UP 8%

🔼 Days on Market: 104 📆, 📈 UP 19%

🔻 $/Sq FT: $1,328, 📉 down 14%

Unlock the hidden wealth in your Malibu property! 🗝️💼 Curious about your home equity 💰? Thinking of buying in Malibu? 🏠🌴 Let's chat! Send a DM or call us at 📱 310-777-6342 for expert insights!

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Welcome to our May 2024 luxury real estate market update for Malibu, CA! This month, we’re taking a closer look at the Malibu hillside area, a perfect blend of natural charm, rural appeal, and luxury living, located just across from the iconic Malibu Beach and Pacific Coast Highway. If you're curious about the latest market trends, home prices, and what makes this area so desirable, read on for all the details!

Market Overview

In May 2024, the average sales price for properties in the Malibu hillside area surged by an impressive 87%, reaching $7.6 million. This dramatic increase highlights the growing demand for these stunning hillside retreats, which offer breathtaking views of the entire coastline and a serene, luxurious lifestyle.

List Prices and Properties Sold

The average list price also saw a modest rise of 2%, now standing at just over $9 million. Nine properties were sold in May, reflecting an 8% increase compared to the previous 90 days. This steady sales activity shows that buyers are keen to invest in the unique charm and luxury of Malibu’s hillside estates.

Market Time and Price Per Square Foot

Properties in Malibu do tend to stay on the market longer, with an average market time of 104 days, up 19%. This is typical for high-end markets where buyers take their time to find the perfect property. The price per square foot has decreased by 14%, now averaging $1,328. This offers a more reasonable alternative compared to Malibu Beach, making the hillside an attractive option for those seeking luxury without the beachfront price tag.

Why Choose Malibu Hillside?

The Malibu hillside area offers a variety of properties, from canyon retreats to vineyard estates, all with stunning coastal views. This region is ideal for those who prefer a quieter, more secluded lifestyle while still being close to the vibrant beach scene. Living in the hills means you can enjoy beautiful views, fresh air, and a touch of rural charm, while being just a short drive from the coast where you can dine, shop, and enjoy Southern California’s famous beaches.

Unlock Your Property’s Potential

Curious about the hidden wealth in your Malibu property? Wondering about your home equity or thinking of buying in this idyllic area? Our team of expert real estate agents is here to provide you with the insights you need. Contact us at 📱 310-777-6342 or send us a DM for personalized advice and market analysis.

Bottom Line

Malibu’s hillside area offers a unique blend of luxury, natural beauty, and proximity to the coast, making it a highly desirable location for real estate investment. Whether you're looking to buy or sell, understanding the current market trends and leveraging expert insights is crucial. Connect with a reliable real estate agent to navigate this unique market and make informed decisions.


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